the big problem is people using SMSFs as tax avoidance.... the tax concessions are costing too much.
so perhaps there should be a progressive tax on superannuation balances with tax-free to a balance of $1.5m, to assist lower income earners to successfully achieve a balance that provides all that the pension would offer, the next $1m (to $2.5m balance) taxed at 15% with a 5% increase for each additional $500k balance thereafter so that after $5m balance tax would be paid without the need to cap SMSF balance yet not cost so dearly.
